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Foursquare builds a new ad business on your check-ins

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Remember that time you battled a random stranger become the "mayor" of your local coffee shop on Foursquare? Don't worry if you don't, because Foursquare remembers and now it's going to use that data as part of Pinpoint, its new advertising solution. The platform will serve you ads across multiple apps, exchanges and publishers based on where you've been. According to Foursquare, "the places you go are the best indicator of who you are." It's like browser cookies but in the real world. It's also a bit like someone is following you around town to serve ads. In addition to where you've been, the company's Place Attribution Report helps brands determine if their ads succeed in sending you to real-world locations. So when launch partner Wild Turkey Bourbon serves you an ad about its booze and you check into a bar a few days later, everyone will be ecstatic that the system works. Well, everyone but you.

Source: Foursquare
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